Azerbaijan's average annual inflation rate stands at 2% for January-November 2024

Azerbaijan's average annual inflation rate for the first 11 months of 2024 stood at 2%. This figure is broken down into 1% for food, beverages, and tobacco products, 1.5% for non-food items, and 3.8% for paid services to the population, Report informs, citing the State Statistics Committee.

In November 2024, the inflation rate compared to November of the previous year was 4.4%, with food items at 4.4%, non-food items at 2.2%, and paid services at 6%. When compared to October 2024, the inflation rate in November was 0.7%, with food items experiencing a 1.4% increase.

The products that saw the most significant price increases in November included rice, oatmeal, beef, canned fish, yogurt, cheese, cottage cheese, eggs, margarine, butter, sunflower and corn oils, bananas, grapes, walnuts, hazelnuts, chestnuts, white cabbage, greens, tomatoes, cucumbers, sweet peppers, eggplants, garlic, onions, potatoes, and black and green tea.

Notably, egg prices rose by 11.7%, and vegetables by 6.7%.

On the other hand, some products experienced price decreases in November, such as fresh fish, lemons, oranges, tangerines, apples, quinces, pomegranates, dates, kiwis, beets, and carrots. Prices for other food items remained relatively stable.